Watching our economy is like watching a car hurtling down the interstate at 104 mph with 5% tread left on three tires, a bent rear axle and a spare rated for 45 on the front right... something is going to happen... but what?
Today, Tom and John discuss what they foresee happening and what we should do to prepare.
Resources: How to Build Sustainable Wealth
Joe Biden is on record for stating “Americans will suffer under my administration”. Biden’s economic policies are threatening to turn out a lot like Jimmy Carter’s did in the 1970s. The good news is we can try to prepare for the future by looking at the past.
Interest rates under Carter were very high. But interest rates on policy loans, while higher than they are right now, were comparatively low. Those who recognized this, were able to borrow against their life insurance policies to capitalize on opportunities which came along. Of course, they could only borrow in proportion to how much they had put in.
Listen to the latest episode of Wealth Talks Now!
We all think we know what the economy is… but do we really? What is the origin of the word economy? What does it mean? Does it pertain to you as much as it does to me?
Those are interesting questions. Here are some more: What is the Cost of a credit card? What is the Price? What about the Cost and the Price for a mortgage? How does that compare to life insurance?
Listen Now to find the answers!
Resources: Winning Your Financial Game
What you need to know about government, money systems and market environments to build sustainable wealth - we make it all easy for you. Understanding these systems conceptually, will help you grow your wealth and keep more of the money you make.
Did you know Sir Isaac Newton (the inventor of calculus) made a significant contribution to a stable monetary system in England? This helped to set the stage for the great wealth accumulated by the British Empire. Hear the story on today’s show.
Today’s discussion also sheds light on why you should become wealthy in the first place. It boils down to how you get the money, and that should be a virtuous activity. As writer George Gilder points out, wealth is only valuable when it is combined with wisdom. Same reason why currency trading doesn’t “create” any value.
“Life, Liberty and the Pursuit of Happiness”, is the foundation which allows opportunity for you to create value out of nothing which is the only model that “creates” real wealth. Other methods just shuffle money around but DO NOT CREATE any new wealth.
Summary includes a tool you can use to avoid some of the imperfections in the “system of the world” in which we live today. This helps maximize your opportunities to create wealth and keep control of the wealth you do create.
We don’t usually talk about job reports and confidence levels, but some special things are happening right now. Despite the looming stock market crash from unprecedented highs which has been predicted by several experts, the next few years are likely to be a great time for small business growth, translating to more personal income and savings for middle-class Americans. Consider these facts and how you can improve your position now so you’re ready when opportunity knocks.